what happers if a person stops paying credit card bills? can they put a lein on your house? can they garnish your social security check? can they garnish your retirement check?
2006-10-23 03:36:25 · 7 answers · asked by betty p 1 in Business & Finance ➔ Personal Finance
They will go after any assets you have - house, car, bank/savings account, etc. If you are so far in debt to the credit card company, call them and try to arrange some sort of relief from the 20%+ interest rate.
As an alternative, go to an attorney and start bankruptcy proceedings.
2006-10-23 03:43:38 · answer #1 · answered by PALADIN 4 · 2⤊ 0⤋
A credit dard is an unsecured loan. They cannot make you pay or do anything except ruin your credit rating. No liens, garnishments, or anything else. Do what you need to but your credit will be ruined.
2006-10-23 11:53:07 · answer #2 · answered by brenden b 2 · 0⤊ 0⤋
It depends. Can the CC company put a lien on your house? I wouldn't think so unless you did something stupid like sign an agreement to that effect. They CAN take you to court, but probably won't.
And of course they can destroy your credit
2006-10-23 10:44:45 · answer #3 · answered by shinobisoulxxx 2 · 0⤊ 0⤋
See if you can set up some type pf payment arrangements. dont mess up your credit with late payments and so on. See if you can refi your house and pay your debt off.
2006-10-23 10:43:44 · answer #4 · answered by Luckys Charm 4 · 1⤊ 0⤋
They will go on giving time to pay & it is better to pay, that you will also agree, suppose you do not want to pay inform them so with justified reason.
2006-10-23 10:45:39 · answer #5 · answered by deepak57 7 · 0⤊ 0⤋
Judging from my experience, credit report, and possessions in my name, I'm going to go with no.
2006-10-23 10:44:19 · answer #6 · answered by bosslady508 3 · 0⤊ 1⤋
It's spelled legal.
Also lien.
2006-10-23 13:13:07 · answer #7 · answered by frugernity 6 · 0⤊ 0⤋